According to BlackRock CEO Larry Fink, bitcoin could “revolutionize finance”. The statement comes as the asset management giant recently filed documents with the SEC for a spot bitcoin ETF. Fink expressed optimism about bitcoin’s transformative potential in the financial industry, highlighting the growing interest in cryptocurrencies.
BlackRock and bitcoin: Potential for transformation in finance
In an interview with Fox Business, BlackRock CEO Larry Fink expressed his belief that cryptocurrencies, especially bitcoin, could revolutionize the financial system. Fink pointed out that the creation more and more asset tokenization and securities, represented by bitcoincould bring about a major transformation in the field of finance.
Previously perceived as skeptical of cryptocurrenciesFink had previously discussed their predominant use in illicit activities by followers of this asset class.
Fink went on to explain, “Rather than investing in gold as a hedge against inflation or onerous country problems or the devaluation of your currency, let’s be clear: bitcoin is an international asset, it is not based on a single currency and can therefore represent an alternative asset“.
BlackRock Filed for Bitcoin ETF: What SEC Decision to Expect?
On June 16, BlackRock’s iShares subsidiary filed documents with the Securities and Exchange Commission (SEC) for a spot bitcoin ETF. Although BlackRock has a near-perfect track record of ETF approvals from the SECFink could not say when a decision on his bitcoin ETF might be expected.
“We hope that one day, like in the past, we can work with our regulators and get approval for the filing, but I have no idea when that day will come, we will see how it all plays out,” said Fink said.
BlackRock CEO Larry Fink’s statement on the revolutionary potential of bitcoin in finance has sparked interest and debate. As BlackRock actively explores opportunities related to bitcointhe market itself remains relatively stable despite these bullish comments.
Sources: Coindesk, foxbusiness